New oil deal hands Washington majority control over Venezuela’s reserves: Analyst
Isaac Bigio argues that Venezuela’s new oil deal gives Washington majority control over the country’s reserves and revenues, saying the US will take 55% of profits while Caracas receives only $19 per barrel.
He noted that even parts of the Venezuelan opposition view the agreement as unconstitutional and fear it could extend the interim government’s hold on power.
Bigio added that Donald Trump’s praise of the deal shows how strongly it favors Washington, describing it as a model of resource imperialism that many Venezuelans and Global South nations reject.
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